Singapore

The European Covered Bond Council (ECBC) has appointed DBS's Colin Chen as the chairman of a new global working group for 2016-2019.

Manulife US Real Estate Investment Trust (Reit) has tentative plans to start pre-marketing its Singapore listing from next week, according to sources close to the deal.

In this round-up, trade settlement picked up in March, Asian exchanges saw declining USDCNY futures volumes, Nigeria will include the RMB in its FX reserves, a survey found the RMB is likely to replace the Hong Kong dollar as most popular currency in HK, and a new cross-border scheme was established between Singapore and China. Plus, a recap of GlobalRMB's top stories this week.

A $315m five year loan for Stats ChipPac has been signed after being in syndication for six months. Eight banks eventually formed the lending group.

Allocations have been revealed for a $274m triple-tranche loan for Indian pharmaceutical firm Strides Arcolab's acquisition in Australia.

Singapore-based wastewater treatment company Hyflux has cut the size of its loan to $224m after failing to muster enough demand.

Credit Suisse has named former Macquarie banker Cheun Hon Ho as its new southeast Asia ECM head.

Singapore’s PSA International braved a crowded market on Tuesday to make a return to dollar bonds after a six year absence. The rarity of the name worked in the issuer’s favour, allowing it to meet its key pricing objective.

OUE Hospitality Trust’s S$238.6m ($175.7m) rights issue has been a big success, with shareholders signing up for 1.4x the shares on offer, according to a company filing.

Singapore’s PSA International broke its six year absence from the bond market in style on Tuesday, raising $500m in a deal that met its objective of pricing inside the curve of the closest comparable.

Loss-making commodities trader Noble Group has launched a richly priced $1bn one year refinancing into general syndication.

Olam International returned to the international bond market on Tuesday after an absence of nearly two years with a popular $300m trade that drew good participation from private banks and institutional accounts.